World Monitor Mag WM_June 2018 web - Page 30

INVEST TO KAZAKHSTAN Foreign Investors’ Council On the eve of the Foreign Investors’ Council (FIC) in Astana, the Chairman of the Investment Committee of the Ministry for Investment and Development of RoK, Mr Erlan Khairov, answered our questions about the mission and working principle of FIC. Erlan Khairov, the Chairman of the Investment Committee of the Ministry for the Investments and Development of RoK Erlan Kartayevich, good day! Thank you for agreeing to be interviewed about the Foreign Investors’ Council and sharing your time with us. This is clear how busy your schedule is. Can you describe FIC? When was it founded? What is its mission? Greetings! The Foreign Investor’s Council is first and foremost a unique platform that gives a chance for acting foreign investors to approach the Head of the State directly and provide their recommendations openly. Its mission is in establishing direct dialogue between the RoK government and foreign investors. None of the investors were intended to leave throughout the 20 years of its existence. The Council was founded in 1998. If we think back on those years, the times were difficult for our country. Oil prices receded, was changing market conjuncture. In those conditions our president decided to create such a council to become a field for exchanging feedbacks with foreign representatives. It means then that such a platform exists to exchange opinions with experts from all over the world? Yes, we can put it this way. This is about exchanging opinions and providing recommendations of the Council members that is being accomplished at the annual Gliding session of the Council under the chairmanship of the president of RoK. Why is this Council so important? The main aspect that attracts the invest ors is the Head of the State’s personal involvement 28 world monitor into the Council’s work. The president personally cares about the investors, shows the openness of the republic’s authority by his own example. I would like to stress the president’s personal involvement. Thanks to him we have accomplished many investment projects. It is known that our Head of the State devotes significant time to attracing investments. There are many investment events that are held annually. Meetings with investment leaders happen in various formats: business forums and round tables. The work is primarily focused on state and foreign visits for the Head of the State where economic cooperation is the main goal. Our Head of the State understands that investment is not only finance, but the advent of new technologies, new competences. We can basically develop a new industry. Can you share who are members of the Council and what are the conditions to enter? Criteria to become a member of the Foreign Investors’ Council are clearly defined in the president’s Decree. Shortly, if the investor is from the field of minerals, he should invest a minimum of 500 million USD, if he is from the manufacturing sector – 125 million USD. The Council members can become the representatives of international and other organizations, banks that are active in shaping favorable investment climate and revitalization of the investment processes in the country’s economy. Currently the Council consists of 33 foreign members and 2 observers. These are the first chiefs of all big transnational foreign companies that implement their activities in Kazakhstan,